Housekeeping: Good Morning.
“Be First, Be Better, or Cheat”
Today
Topic: The New Nuclear Age
Market Analysis:
Trump Signs Executive Order to Boost Nuclear Sector; Goldman Reaffirms CCJ Buy
GFX Newswire Washington, D.C. | May 23, 2025
President Trump has signed an executive order invoking the Defense Production Act to address U.S. reliance on enriched uranium and nuclear supply chain inputs from China and Russia. The action declares a national emergency and directs federal agencies to streamline permitting, designate federal lands for reactor sites, and activate the Department of Energy’s Loan Program Office to finance reactor construction.
Goldman Sachs maintains a constructive outlook on the nuclear sector and reiterated its Buy rating on uranium producer Cameco (CCJ/CCO.TO), citing upside from expanded fuel demand and a potential acceleration in reactor builds. The bank views Cameco’s 49% stake in Westinghouse as a near-term beneficiary, should AP1000 designs be adopted for new reactors.
“We maintain a constructive view on the nuclear opportunity, both near-to-medium term for fuel supply and long term for deployment,” Goldman Sachs analysts wrote.
The executive order may also benefit small modular reactor (SMR) developers if additional loan allocations are directed toward civilian and defense applications. Goldman remains Neutral on SMR Inc., but highlights upside tied to federal loan support and streamlined licensing.
The bank’s recently published investor roadmap for gaining leverage to the nuclear theme highlights 14 stocks across the bank’s coverage, including Mirion Technologies, Mitsubishi Heavy Industries, and Southern Company. These will be broken out along with the uranium market in the coming days at GoldFix.
GoldFix Comment: We believe what the previous administration did for Chip stocks the current one will do for Nuclear stocks
Continues in Part 1 of 3 A New Nuclear Age Emerges
Coming Soon:
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Data on Deck: TUESDAY, MAY 27 (PCE Week)
4:00 am Minneapolis Fed President Neel Kashkari speech in Tokyo
8:30 am Durable-goods orders April
9:00 am S&P CoreLogic Case-Shiller home price index (20 cities)March--4.5%
10:00 am Consumer confidence
8:00 pm New York Fed President John Williams speech in Tokyo
Summary and Final Market Check…
